To make effective measurements of our campaigns that tell us whether we have reached the return of the deposit or ROI, the first thing we ask is what are the measurable elements in email marketing.
When you send an email marketing campaign from a delivery platform, we automatically generate different data that can even be downloaded to be studied and compared with the different campaigns we have in place. But for effective measurements in our campaigns, to tell us if it really has reached the return on investment deposited, the first thing we ask is what are the measurable elements.
Only from here we will be able to consider whether to continue with the marketing strategy that we had set or, on the contrary, change it as soon as possible.
What can we measure in email marketing?
1. The first measurable element is the number of sent emails. This will help us to ponder on the number of emails opened, conversions, etc. in relation to which the emails we have sent. But one thing is the emails that we have sent, the another is those that will actually reach the users.
2. Emails delivered. Emails that have really truly reached the inbox of the users. When delivering the emails, you can have several technical problems or bounces. There are two types of “bounced emails”:
– Hard bounce: Occurs when we are trying to deliver an email to an email address that does not exist. In this case, our database would be outdated with an email address that will never be valid again.
– Soft bounce: In this case the email would not have reached the user tray due to a technical problem. This can occur, for example, because the inbox is full.
3. Total Openings and unique openings. The latter are made by a single person, whereas if we measure the total opens, we will refer to the number of times that one or more people clicked on our mail. That is, if one recipient made 3 clicks on the email, we are talking about total openings, but from one unique user.
4. The number of un-subscriptions. We assume that it is mandatory to include the unsubscribe link in an email or newsletter, since the user is entitled to unsubscribe from your email database whenever he or she wants to.
5. Measurable Elements of sale: Here we would be checking the number of orders made and the revenue obtained.
6. Net Margin: In this case we would see the average of what was really won after subtracting costs.
How to calculate the metrics?
When making measurements of our campaigns, we will work with what emails would be the emails that were delivered. We want to know how many people opened our emails, how many clicked, etc. always on delivered emails. To find the opening ratio, make a division of all users or only openings between emails delivered (by 100 to know the exact percentage). In Spain, the ratio of opening email campaigns is between 12% and 35%.
The reactivity rate is calculated by dividing the number of unique clicks between the number of openings (per 100). In terms of sales, the conversion ratio is achieved if we start selling orders between the number of unique clicks by 100. This ratio refers to people who just purchase once they have reached the website of your company through your email or newsletter. Hence it is so important to show appreciation to them to gain their attention.
There is another useful metric, which lets us know how much money you are winning thanks to emails you send. This is the gross margin per 1,000 emails sent. We can find this by dividing the gross margin between emails sent by 1,000.
The ratio of unsubscribes will also give us some clues about the acceptance of our emails. We can calculate this with the number of unsubscribes divided by the number of unique openings divided by 100. The casualties may be lower when users are disappointed with what we say in the matter, being generic campaigns without any segmentation, offers, etc.
But what determines the rate opening an email?
-The subject line
–From / Sender
-The Time and day: ideally compare different times to send in order to see what works best.
-The Frequency of the emails: we cannot exhaust the user and let our opening rate go down. There is no magic formula, all depends on the sector in which we find ourselves and the needs of our company. You have to communicate something when you really have an interesting message to send.
What elements can help increase the opening rate?
– Insert a custom element such as the name of the person, or their company, to make it more personal.
-Encourage with gifts or discounts: “Save 50%”
–Send Emails to former customers who already trust you, to reawaken them.
-Include Calls to action in which we play with time and deadlines: “Offer only today”
–Avoid generic campaigns with unattractive subject lines.
-The Creative is fundamental in any email campaign.
-The Subject and content must be consistent. It does not serve to send an email that has content that does not match the subject.
The message has to be aligned with the brand it represents and the user who will receive it. Here are some keys to better approach the users.
Finally, do both segmentation and testing the format, days and content. This will be key to improving your emails.
The best way to achieve success in email marketing is to use Moment Marketing:
Moment Marketing grants our email marketing campaigns the ability to be automated depending on the triggers that suits us best. These can be: weather, television commercials, sporting events, payment day, etc.
We must seize the context that surrounds users in order to generate interaction. All that is relevant to your company and your users account. For example, if you have a fast-food company, take advantage of football games to promote yourself! And if what you offer are series and online movies, takes advantage of the bad weather!
The universe puts us in position of Moment Marketing, and it is infinite for any company. Thanks to this, you can send emails based on what the consumer is looking for at a specific time. Just understand the needs of your customers and give them the service they need. But beware, not everything attracts the same type of customers, so put yourself in their place and offer them what they are looking for!
This automation of emails offered by Moment Marketing is the best way to have more control over your campaigns and quantify the impact you have had with them.
Learn more about Moment Marketing here.